Overview

• Bitcoin spiked to $124,289 during Asian trading, coming within a few hundred dollars of its August peak at $124,429.
• U.S. spot bitcoin ETFs drew $3.24 billion in net inflows in the week ended Oct. 3, the second‑largest weekly haul on record, with BlackRock and Fidelity leading.
• Glassnode data show exchange balances near multi‑year lows, reinforcing a supply‑squeeze narrative as long‑term holders reduce selling.
• Derivatives leverage has climbed, with analysts warning that roughly $20 billion in concentrated longs could face liquidations if momentum fades.
• Banks have lifted targets and technicians flag key thresholds, with JPMorgan citing $165,000 for 2025, Citi $133,000 for year‑end, and traders watching support near $120,000 and resistance around $125,000.